Orthofix International N.V., a medical device company, provides reconstructive and regenerative orthopedic and spine solutions to physicians. It operates through four segments: BioStim, Biologics, Extremity Fixation, and Spine Fixation. The BioStim segment manufactures, distributes, and provides support services for a range of devices that enhance bone fusion and are indicated as treatment to improve fusion success rates in cervical and lumbar spine, as well as a therapeutic treatment for non-spine fractures. The Biologics segment provides a portfolio of regenerative products and tissue forms that allow physicians to treat a range of spinal and orthopedic conditions. The Extremity Fixation s...
7 Abraham de Veerstraat
Founded in 1987
Orthofix International N.V. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Year 2015
May 18 15
Orthofix International N.V. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net sales were $89.8 million, a 10.3% decline compared to $100.0 million in the prior year period. Net sales decreased by 7.4% on a constant currency basis. Operating loss was $7.2 million compared to $0.0 million in first quarter of 2014. Adjusted EBITDA from continuing operations, which excluded share-based compensation, foreign exchange impact, interest income, strategic investments, accounting review and restatement expenses, Bluecore infrastructure investments and a gain on the sale of assets was $8.4 million or 9.4% of net sales, compared to $14.9 million or 14.9% of net sales in the prior year period. Net loss from continuing operations was $7.7 million, or $0.41 per basic and diluted share, compared to $1.9 million, or $0.11 per basic and diluted share in the prior year period. Adjusted net loss from continuing operations was $2.8 million, or $0.15 per basic and diluted share, compared to adjusted net income of $3.2 million, or $0.18 per basic and diluted share in first quarter of 2014. Loss before income taxes was $6.773 million against $0.769 million a year ago. Net loss was $8.379 million or $0.45 per basic and diluted share against $2.508 million or $0.14 per basic and diluted share a year ago. LBITDA was $1.193 million against EBITDA of $5.302 million a year ago. Adjusted EBITDA was $8.424 million against $14.858 million a year ago. The decline was due to the decrease in net sales and the increase in SG&A expenses supporting strategic initiatives. Net cash provided by operating activities was $4.941 million against net cash used by operating activities of $10.212 million a year ago. Capital expenditures were $5.113 million against $3.737 million a year ago. The increase in operating cash flow is primarily reflective of the year-over-year increase in cash provided by working capital accounts, specifically changes in accounts receivable and accounts payable.
The company expects capital expenditures to be between $20 million and $25 million for the full year 2015, which includes Bluecore investments and expects full year 2015 effective tax rate, varying any unanticipated discrete items, to e between 40% and 50%, but the rate may vary widely on a quarterly basis. The company expects to report net sales in the range of $385 million to $390 million, based on current exchange rates. This would represent flat year-over-year growth at the midpoint of its range at constant currency. Additionally, the company expects adjusted EBITDA to be in the range of $55 million to $58 million in 2015.
Orthofix International Mulls Acquisitions
May 18 15
Doug Rice, Chief Financial Officer of Orthofix International N.V. (NasdaqGS:OFIX) said, "We will remain vigilant in finding strategic product tuck-in acquisitions and licensing opportunities to complement our existing products."
Orthofix International N.V. to Report Q1, 2015 Results on May 18, 2015
May 12 15
Orthofix International N.V. announced that they will report Q1, 2015 results at 5:00 PM, Atlantic Standard Time on May 18, 2015